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View Full Version : Did something I thought I'd never do again.....



gold-n-rod
11-21-2005, 01:03 PM
I NEVER thought I'd ever do this again in my lifetime.

I bought unleaded for $1.99/gallon.

Imagine that!!!

:)

Forrest
11-21-2005, 03:24 PM
Yea, I'm even thinking about pulling my Magnum out of storage now. No way I would gas it up when it was near $3.50/gal.

Here is what Anderson & Strudwick's Capital Markets Strategist, Kent Engelke (http://www.andersonstrudwick.com/dailyperspective.cfm), wrote in his Daily Commentary today (http://www.andersonstrudwick.com/daily_archive_article.cfm?artid=631) about oil prices:

". . . Crude is now at a five month low as inventories in both crude and natural gas are greater than anticipated. Some accounts actually have used the verb “surging” to describe inventories. We often wrote that we thought prices were unsustainable given the constant increase in stores. The operative question --will prices fall below $53/barrel—the next level of support? At the time of this writing oil is trading around $55.50.

I guess that means the the pice of gasoline could go even lower.

Cuda
11-21-2005, 04:03 PM
Forrest, I get that same report emailed to me. I don' think he's been off target yet.

gcarter
11-21-2005, 06:44 PM
I remember the same thing happening in the early '80's. I started thinking it would never go below $1.00/ gallon. Later oil collapsed and went to $9.00/barrel. Remember, the recent price of oil NEVER got to the levels of the early '80's, which was $108.00/barrel adjusted for inflation.